The Current Unemployment Rate In The United States

New Mexico Unemployment Rate

Although New Mexico is no longer thought of as a mining state, the oil and gas industry still pulls in more than $2 billion each year. However, mining only represents a small portion of the workforce, with the government sector actually employing more than the private sector. The federal government has a number of installations in the Land of Enchantment, including the Los Alamos National Laboratory and three Air Force bases.

• Unemployment Historic High/Low:
• Historic High: 10.5
• Historic Low: 3.5
• Current unemployment: 4.4

What Is The Relationship Between Initial Claims And The Unemployment Rate And Why Might It Be Different Now

The number of people receiving UI and the number counted as unemployed do tend to move in the same direction, but there is no formal link between the two. The only criteria for being counted as unemployed are that you are without a job and that you have actively searched for work or are on temporary layoff. You dont need to be collecting unemployment insurance to be counted as unemployed. And some people are eligible to collect partial unemployment insurance benefits if they are working but have been assigned a schedule that is far below their usual weekly hours.

Many people who become unemployed do not apply for UI benefits, either because they are not eligible or because they choose not to apply. So initial claims typically understate the number of people becoming unemployed in a given week. That said, there are people who file an initial claim and are not counted as unemployed in the CPS. This could happen if a person doesnt meet the CPS criteria for being unemployedfor instance, if they file for UI because their work schedule was reduced, or if the person has a very short spell of unemployment which is not captured in the CPS .

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Current Unemployment Rates For States And Historical Highs/lows

State

Preliminary

Note: Rates shown are a percentage of the labor force. Data refer to place of residence. Seriesbegin in January 1976. Historical highs and lows show the most recent month that a rate wasrecorded in the event of multiple occurrences. Estimates for at least the latest five years aresubject to revision early in the following calendar year. Estimates for the current month aresubject to revision the following month.

November 18, 2022

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Us Unemployment Rate History

The unemployment rate is the percentage of people in the labor force who are looking for a job but cannot find one. In the United States, the unemployment rate is calculated by the Bureau of Labor Statistics . The BLS surveys households to determine who is employed, who is unemployed, and who is not in the labor force. The unemployment rate does not include people who are not looking for a job, such as students or stay-at-home parents. Nor does it include those who are incarcerated or running their own business.

Unemployment Rates By Group

Unemployment is not distributed evenly across the U.S. population. Figure 2 shows unemployment rates broken down in various ways: by gender, age, and race/ethnicity.

Figure 2.Unemployment Rate by Demographic Group. Unemployment rates for men used to be lower than unemployment rates for women, but in recent decades, the two rates have been very close, often with the unemployment rate for men somewhat higher. Unemployment rates are highest for the very young and become lower with age. . Although unemployment rates for all groups tend to rise and fall together, the unemployment rate for whites has been lower than the unemployment rate for Blacks and Hispanics in recent decades. .

The unemployment rate for women had historically tended to be higher than the unemployment rate for men, perhaps reflecting the historical pattern that women were seen as secondary earners. By about 1980, however, the unemployment rate for women was essentially the same as that for men, as shown in 2. During the recession of 20082009, however, the unemployment rate climbed higher for men than for women.

Figure 3. While women had historically more affected by unemployment, there is very little gender unemployment gap today.

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New Hampshire Unemployment Rate

New Hampshire has a long history as a manufacturing state, specifically with the production of paper and grain. As the use of mills began to decline over the 20th century, the Granite State turned to more traditional manufacturing. Although modern manufacturing has become far more high-tech, it still remains the biggest sector of New Hampshire’s economy.

• Unemployment Historic High/Low:
• Historic High: 16.2
• Historic Low: 2.0
• Current unemployment: 2.0

District Of Columbia Unemployment Rate

Although technically a city, the BLS still records a state unemployment rate for the District of Columbia. While it may come as little surprise that the U.S. capital’s workforce is heavily represented in its government sector, the professional and business services industry has actually been the largest and fastest growing sector from 2019 to 2020. It also has the highest population density in the country, when compared to the 50 states.

• Unemployment Historic High/Low:
• Historic High: 11.3
• Historic Low: 4.7
• Current unemployment: 5.1

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The Sharpest Rise In Unemployment Occurred In Service Occupations

In 2020, the unemployment rate increased for all five major occupational categories.6 The jobless rate for service occupations had the sharpest increase, rising by 8.6 percentage points over the year to reach 13.0 percent in 2020. Production, transportation, and material moving occupations had the second-largest increase, rising by 5.9 percentage points over the year to 10.2 percent in 2020. The pandemic and efforts to contain it had a substantial impact on these occupations. Within service occupations, food preparation and serving related occupations and personal care and service occupations were the most affected, with jobless rates that were nearly 4 times higher than they were in 2019. The jobless rates for natural resources, construction, and maintenance occupations sales and office occupations and management, professional, and related occupations also rose sharply from 2019 to 2020.

Us Unemployment Rates By Year

The U.S. Bureau of Labor Statistics has measured unemployment since the stock market crash of 1929.

Gross domestic product is the measure of economic output by a country. When the unemployment rate is high, there are fewer workers. That could lead to less economic output and a lower rate of GDP.

When inflation rises, the prices of goods and services go up, making them more expensive. If there is a high rate of unemployment at the same time, this could cause issues for those without an income since they may be struggling to afford basic necessities.

The following table shows how unemployment, GDP, and inflation have changed by year since 1929. Unless otherwise stated, the unemployment rate is for December of that year. Unemployment rates for the years 1929 through 1947 were calculated from a different BLS source due to current BLS data only going back to 1948. GDP is the annual rate and inflation is for December of that year and is the year-over-year rate.

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Number Of Unemployed In Us 2022

The United States had an unemployment rate of 3.5 percent in August 2022, according to the Bureau of Labor Statistics . This means that there were 5.7 million unemployed people in the US that month. The unemployment rate peaked at 10 percent in October 2009 during the Great Recession, but it has slowly declined since then. In February 2021, after the pandemic, the unemployment rate was 4.9 percent. There were 7.6 million unemployed people in the US.

The Unemployment Rate Was 37% In November 2022

Kimberly Amadeo is an expert on U.S. and world economies and investing, with over 20 years of experience in economic analysis and business strategy. She is the President of the economic website World Money Watch. As a writer for The Balance, Kimberly provides insight on the state of the present-day economy, as well as past events that have had a lasting impact.

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The current unemployment rate, which measures the percentage of workers who want a job but dont have one, has remained low as the U.S. economy continues to rebound from COVID-19.

The Bureau of Labor Statistics tracks unemployment and jobs on a monthly basis. The current unemployment rate reveals more about the state of the overall economy and its impact on the average American’s finances.

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How Does The Us Determine The Unemployment Rate

The U.S. determines the unemployment rate by dividing the unemployed individuals by the total number of individuals in the labor force. This is then converted into a percentage. How the U.S. determines the âlabor forceâ and âunemployedâ varies. The labor force, for example, only includes those who are employed or unemployed and seeking employment.

Why The Unemployment Rate Still Matters

Just like your body, the economy is a superbly complex system. When you visit doctors or other healthcare providers, they routinely take several measurements â height, weight, blood pressure, and temperature. Tracking these vital signs over time can lead you and your healthcare providers to seek further tests. Yet, even when your healthcare providers need more information, they continue to take the basic measurements.

In much the same way, the government routinely measures the health of the economy. Here at BLS, we specialize in tracking labor market activity, working conditions, productivity, and price changes. One of our most important measures is the national unemployment rate. Since it is measured the same way each month, year after year, changes in the rate can be an important signal of changes in the labor market and economy.

We realize, of course, that the unemployment rate doesnât tell the full story. It isnât meant to. Much like your temperature is a necessary measurement, its usefulness increases when viewed with other measures. When we release the unemployment rate each month, we also publish five alternative measures of labor underutilization to help assess labor market conditions from several perspectives.

For example, if you want to know how adult Black men are performing in the labor market, we have a stat for that. Ditto for people with a less than high school education or veterans with service-connected disabilities.

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What Is The Current Unemployment Rate In The Uk 2022

Unemployment rates in June to August 2022 fell by 0.3 percentage points from the previous quarter to reach 3.8%, the lowest level since December 1974.

According to the World Economic Forum, the global youth unemployment rate is expected to rise to 14.9 percent in 2022. The number is growing at an alarming rate, and it is expected to increase even further in the future. Over the last 40 years, the United Kingdom has had the worlds lowest unemployment rate, at 6.77 percent. The global average is expected to increase by 14.9 percent by 2022, making this a significant difference from current levels. Developing countries, including India, Pakistan, and Nigeria, are expected to have a higher rate of youth unemployment than developed countries at 36.2 percent in 2022. These countries, in addition to being more developed and have a larger youth population, have a higher rate of youth unemployment than the global average. It has lower youth unemployment rates than many other countries because their economy is more developed and their population is smaller. There has been a long history of low unemployment in the United Kingdom, which is most likely due to the countrys strong economy and skilled labor force.

Overview Of Bls Statistics On Unemployment

A number of BLS programs provide information about joblessness. See the following:

BLS publishes monthly reports on all mass layoffs and quarterly reports on layoffs lasting more than 30 days. These reports identify, describe, and track the effects of major job cutbacks, using data from each states unemployment insurance database supplemented with employer-provided data.

The Employment Research staff initiates, plans, and directs activities for improving the quality and enhancing the analytical usefulness of BLS employment and unemployment statistics.

Unemployment Rates in Other Countries

Monthly estimates of unemployment rates for 10 countries, approximating U.S. concepts, are available on a seasonally adjusted basis.

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How Do I Apply

To receive unemployment insurance benefits, you need to file a claim with the unemployment insurance program in the state where you worked. Depending on the state, claims may be filed in person, by telephone, or online.

• You should contact your states unemployment insurance program as soon as possible after becoming unemployed.
• Generally, you should file your claim with the state where you worked. If you worked in a state other than the one where you now live or if you worked in multiple states, the state unemployment insurance agency where you now live can provide information about how to file your claim with other states.
• When you file a claim, you will be asked for certain information, such as addresses and dates of your former employment. To make sure your claim is not delayed, be sure to give complete and correct information.
• It generally takes two to three weeks after you file your claim to receive your first benefit check.

West Virginia Unemployment Rate

Following the Reconstruction Era, West Virginia’s economy revolved heavily around its abundant natural resources and growing extraction industry. Coal had a particularly prominent place in the early West Virginian economy, and the state remains the second-largest coal producer in the U.S. In 1983, West Virginia reached the highest state unemployment rate in the country’s history, prior to the coronavirus outbreak.

• Unemployment Historic High/Low:
• Historic High: 18.4
• Historic Low: 3.5
• Current unemployment: 3.9

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Rhode Island Unemployment Rate

Following the American Revolution, Rhode Island had a prominent manufacturing sector. Deindustrialization eventually led to the decline of manufacturing, which was slowly replaced with a more service-based economy. Healthcare and social assistance is the dominant industry in Rhode Island.

• Unemployment Historic High/Low:
• Historic High: 18.4
• Historic Low: 2.7
• Current unemployment: 2.8

Charting Jobs Unemployment And Labor Force Changes Across The States And Over Time

The map below shows the current unemployment rate in each state, and the percent change in the number of jobs in each state over the preceding 12 months. Clicking on a state will also show the change in that states unemployment rate or change in the number of jobs over the last 3 months, 12 months, and since December 2007the peak of the previous business cycle.

The charts below the map show the unemployment rate over time, the change in the total number of jobssince December 2007, and the change in the labor force since December 2007 for the selected state, as well as all other states in the same Census division.

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A03 Nsa: Employment Unemployment And Economic Inactivity For Men Aged From 16 To 64 And Women Aged From 16 To 59

Employment, unemployment and economic inactivity for men aged from 16 to 64 and women aged from 16 to 59 . The employment and inactivity rates shown in this table were the headline employment and inactivity rates until August 2010, when ONS replaced these headline rates with rates for those aged from 16 to 64 for both men and women. These new headline rates for those aged from 16 to 64 are shown in Table A02 NSA. These estimates are sourced from the Labour Force Survey, a survey of households.

Solutions For Creating More Us Jobs

A variety of options for creating jobs exist, but these are strongly debated and often have tradeoffs in terms of additional government debt, adverse environmental impact, and impact on corporate profitability. Examples include infrastructure investment, tax reform, healthcare cost reduction, energy policy and carbon price certainty, reducing the cost to hire employees, education and training, deregulation, and trade policy. Another suggestion is to have the government become the employer of last resort. A job guarantee would maintain labor market stability and real full employment just as it is responsible for the stability of the financial sector. Authors Bittle & Johnson of Public agenda explained the pros and cons of 14 job creation arguments frequently discussed, several of which are summarized below by topic. These are hotly debated by experts from across the political spectrum.

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Us Unemployment Rate Before And After Covid

The US unemployment rate had reached a 50-year low of 3.5% in February 2020. However, due to the coronavirus pandemic, the unemployment rate increased to 14.7% in April 2020. The number of unemployed people in the US increased from 5.8 million in February to 23 million in April. The unemployment rate is now higher than it was during the Great Recession of 2008-2009. In May 2020, the unemployment rate fell to 13.3%, but this is still much higher than it was before the pandemic. In terms of state unemployment rates, the New York State has had an increase in its unemployment rate from 4.4% in December 2019 to 8.1% in March 2020. Other states with high unemployment rates include Michigan , California , and Ohio . In contrast, Texas had an unemployment rate of 2.9% as of March 2020, which is down from 4.1% in December 2019 and below the national average of 3%. States with relatively low unemployment rates also include Alabama , Tennessee , Mississippi , and South Carolina .